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§ 8-417. Escaped property

West's Annotated Code of MarylandTax-Property

West's Annotated Code of Maryland
Tax-Property
Title 8. Valuation and Assessment
Subtitle 4. Assessment Preparation and Modification
MD Code, Tax - Property, § 8-417
§ 8-417. Escaped property
Currentness
“Escaped property” defined
(a) In this section, “escaped property” means any property that:
(1) is subject to assessment for property tax purposes; and
(2) has not been assessed.
In general
(b) Notwithstanding § 8-418 of this subtitle, after it is discovered, escaped property is assessed in the same manner as other similar property is assessed.
Time frame escaped property is subject to property tax
(c)(1) When escaped property is assessed it is placed on the assessment roll and tax roll and is subject to property tax for:
(i) the current taxable year; and
(ii) not more than 3 previous taxable years.
(2) The county tax imposition for each county or municipal corporation tax imposition for each municipal corporation shall be deemed to have covered all property that was not assessed but which should have been assessed for the year that any county or municipal corporation tax was imposed.
Underassessed property
(d) If personal property is assessed at less than its value as a result of the owner inaccurately reporting the cost or other information as to the property, the underassessed part of the property shall be treated as escaped property.

Credits

Added by Acts 1985, c. 8, § 2, eff. Feb. 1, 1986. Amended by Acts 1986, c. 171.
Formerly Art. 81, §§ 34, 34A.
MD Code, Tax - Property, § 8-417, MD TAX PROPERTY § 8-417
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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